The form of trust which is usually established offshore. The 'discretions' are vested in the trustee who can usually decide which of the beneficiaries is to benefit, when and to what extent. Discretions are exercised under advice of, or suggestions from, the settlor/protector.
trust under which no individual has a right to an interest in possession. Generally, the trustees have the power to decide who should receive the capital or income from the trust.
A trust that allows the trustee to distribute or withhold distribution of the trust's income and/or principal to beneficiaries at the trustee's discretion.